Apria Healthcare posts increased revenues, income
LAKE FOREST, Calif. - Apria Healthcare reported a 5.8% increase in revenues for the first quarter ended March 31, 2007 ($389.3 million) compared to revenues for the same period last year ($368.1 million). Net income was $19.1 million for the quarter, an 18.7% increase from last year ($16.1 million). Days sales outstanding (DSO) were 49 days at March 31, 2007, compared to 56 days last year, thanks to increased cash collections. "Growth over the prior year is encouraging and our operational programs continue to yield additional improvements," stated CEO Lawrence Higby. "We still have work to do in 2007 in both operations and sales, but the quarter gives us a good foundation on which to build."